Same problem here can't use bow and arrow, can't load an arrow, haven't tried guns. has oxide loaded but no plugins in use on this particular world, was fine until latest rust update, updated rust dedicated server and oxide mod files.

Yes I am sorry I never replied or updated my post we had to reinstall our server to fix the issue.
It seems we got the short end of the stick with this update as only a handful of servers were affected by this bug